Is Bontrager owned by Trek?

I'm curious to know, does Bontrager belong to Trek? It seems like they often work together, offering high-quality bicycles and components that cater to various riders' needs. I've heard rumors that Trek has some sort of ownership stake in Bontrager, but I'm not sure if that's accurate. Could you please clarify if Bontrager is indeed owned by Trek, and if so, what kind of relationship exists between the two companies? I'm interested in understanding the business dynamics behind their collaboration and how it benefits consumers.